30 June 2021 Morning Session Analysis
Dollar surged amid upbeat data.
The Dollar Index which traded against a basket of six major currency pairs surged over the backdrop of upbeat economic data from U.S. region. According to Conference Board, U.S. CB Consumer Confidence had notched up significantly from the previous reading of 120.0 to 127.3, exceeding the market forecast at 119.0, which spurring positive expectations for strong economic growth in the second quarter. Besides, spiking numbers of the Covid-19 cases in the world had also stoked a shift in sentiment toward safe-haven currency, which dragging up the appeal of the US Dollar. According to Reuters, Indonesia had recorded its highest Covid-19 cases, while Malaysia and Thailand had strengthened the lockdown rule. Nonetheless, investors would continue to scrutinize the crucial jobs data from US region on Friday in order to gauge the likelihood movement for the currency. As of writing, Dollar Index appreciated by 0.01% to 92.05.
In the commodities market the crude oil price appreciated by 0.12% to $73.85 per barrel as of writing. The oil market edged higher amid upbeat inventory data, which spurring bullish momentum on this black commodity. According to American Petroleum Institute, U.S. API Weekly Crude Oil Stock had delinked significantly from the previous reading of -7.199M to -8.153M, better than the market forecast at -4.460M. On the other hand, gold price depreciated by 0.03% to $1761.70 per troy ounces as of writing amid strengthening US Dollar.
Today’s Holiday Market Close
Time Market Event
N/A
Today’s Highlight Events
Time Market Event
N/A
Today’s Highlight Economic Data
| Time | Nation & Data | Previous | Forecast | Actual |
| 14:00 | GBP – GDP (QoQ) (Q1) | -1.50% | -1.50% | – |
| 14:00 | GBP – GDP (YoY) (Q1) | -6.10% | -6.10% | – |
| 15:55 | EUR – German Unemployment Change (Jun) | -15K | -16K | – |
| 17:00 | EUR – CPI (YoY) (Jun) | 2.00% | 1.90% | – |
| 20:15 | USD – ADP Nonfarm Employment Change (Jun) | 978K | 600K | – |
| 20:30 | CAD – GDP (MoM) (Apr) | 1.10% | -0.90% | – |
| 22:00 | USD – Pending Home Sales (MoM) (May) | -4.40% | -1.00% | – |
| 22:30 | CrudeOIL – Crude Oil Inventories | -7.614M | – | – |
Technical Analysis
DOLLAR_INDX, H4: Dollar index was traded higher while currently near the resistance level at 92.35. MACD which illustrated increasing bullish momentum suggest the index to extend its gains after it successfully breakout above the resistance level.
Resistance level: 92.35. 93.25
Support level: 91.35, 90.35
GBPUSD, H4: GBPUSD was traded lower following prior breakout below the previous support level at 1.3875. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 1.3875, 1.3940
Support level: 1.3790, 1.3700
EURUSD, H4: EURUSD was traded lower while currently near the support level at 1.1855. MACD However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 1.1955, 1.2065
Support level: 1.1855, 1.1725
USDJPY, H4: USDJPY was traded lower following prior retracement from the resistance level at 111.00. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 111.00, 111.55
Support level: 110.35, 109.75
AUDUSD, H4: AUDUSD was traded lower following prior retracement from the resistance level at 0.7590. However, MACD which illustrated diminishing bearish momentum suggest the pair to be traded higher in short-term as technical correction.
Resistance level: 0.7590, 0.7700
Support level: 0.7465, 0.7365
NZDUSD, Daily: NZDUSD was traded lower while currently near the support level at 0.6940. MACD which illustrated diminishing bullish momentum suggest the pair to extend its losses after it successfully breakout below the support level.
Resistance level: 0.7120, 0.7300
Support level: 0.6940, 0.6770
USDCAD, H4: USDCAD was traded higher following prior breakout above the previous resistance level at 1.2360. MACD which illustrated increasing bullish momentum suggest the pair to extend its gains toward resistance level at 1.2480.
Resistance level: 1.2480, 1.2605
Support level: 1.2360, 1.2275
USDCHF, H4: USDCHF was traded higher while currently testing the resistance level at 0.9235. However, MACD which illustrated diminishing bullish momentum suggest the pair to be traded lower in short-term as technical correction.
Resistance level: 0.9235, 0.9305
Support level: 0.9165, 0.9095
CrudeOIL, H4: Crude oil price was traded higher while currently testing the resistance level at 73.75. MACD which illustrated diminishing bearish momentum suggest the commodity to extend its gains after it successfully breakout above the resistance level.
Resistance level: 73.75,74.90
Support level: 72.50, 70.30
GOLD_, H4: Gold price was traded lower while currently testing the support level at 1760.40. MACD which illustrated increasing bearish momentum suggest the commodity to extend its losses after it successfully breakout below the support level.
Resistance level: 1793.95, 1814.00
Support level: 1760.40, 1735.85